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Infosys Shares Gain on Buyback Pressure

By

Dhanya Ann Thoppil

Aug. 6, 2014 5:44 a.m. ET

BANGALORE, India—Shares of outsourcing firm Infosys Ltd. rose Wednesday after three former executives of the company suggested it spend part of its massive $5 billion in cash reserves on a share buyback to help boost valuations.

In a letter dated July 29, the former executives, who are also shareholders in the company—V. Balakrishnan, T.V. Mohandas Pai and D.K. Prahlad—asked the company to spend around 40% of its cash and cash...